Insider Selling: First Financial Bancorp. (NASDAQ:FFBC) Insider Sells 932 Shares of Stock

First Financial Bancorp. (NASDAQ:FFBC) insider Richard S. Dennen sold 932 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $30.00, for a total value of $27,960.00. Following the completion of the transaction, the insider now owns 74,720 shares of the company’s stock, valued at $2,241,600. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

First Financial Bancorp. Stock Up 0.1 %

Shares of FFBC opened at $29.10 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 12.54 and a beta of 0.99. First Financial Bancorp. has a 52 week low of $19.92 and a 52 week high of $30.11. The stock’s 50-day moving average price is $25.81 and its 200-day moving average price is $24.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $302.82 million for the quarter, compared to analyst estimates of $214.00 million. First Financial Bancorp. had a return on equity of 10.32% and a net margin of 18.55%. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, sell-side analysts predict that First Financial Bancorp. will post 2.53 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, December 2nd. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 41.38%.

Wall Street Analyst Weigh In

Several brokerages have commented on FFBC. Royal Bank of Canada lifted their price objective on shares of First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Financial Management Professionals Inc. purchased a new stake in First Financial Bancorp. in the 3rd quarter worth $28,000. Point72 DIFC Ltd acquired a new stake in shares of First Financial Bancorp. in the third quarter valued at about $30,000. EntryPoint Capital LLC boosted its holdings in First Financial Bancorp. by 63.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank’s stock worth $39,000 after buying an additional 675 shares during the last quarter. Bogart Wealth LLC increased its stake in First Financial Bancorp. by 2,976.9% during the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock worth $50,000 after buying an additional 1,935 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of First Financial Bancorp. by 23.1% during the second quarter. Blue Trust Inc. now owns 3,340 shares of the bank’s stock valued at $75,000 after acquiring an additional 627 shares during the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Company Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.